Shanghai Composite Index Closed Up Over 2% People's Bank of China carried out 7-day reverse repo operations in RMB70 billion. Meanwhile, China Securities Regulatory Commission announced the replacement of Chairman during weekend, and some analysts believe the removal of the uncertainty may help restoring investors' confidence. Mainland stocks rallied over 1-2% today. At market close, Shanghai Composite Index and Shenzhen Component Index concluded at 2,927 and 10,370, up 2.3% and up over 2%, respectively. The turnover in Shanghai and Shenzhen reached RMB238.6 billion and RMB363.4 billion, respectively.
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HSI Falls 105 pts; Building Materials, Gold Stocks in Demand Hang Seng Index retreated this morning following the correction of oil prices. The benchmark index saw a loss of up to 152 pts after opening lower 124 pts and finished the morning session lower by 105 pts or 0.55% to 19,257. Hang Seng China Enterprises Index retreated 49 pts or 0.6% to 8,116. Half-day market turnover totaled $31.313 billion. HSBC HOLDINGS (00005.HK) -0.700 (-1.374%) Short selling $102.29M; Ratio 30.778% wilt 1.8% to $50.05. STANCHART (02888.HK) -2.000 (-4.036%) Short selling $39.13M; Ratio 34.500% dived 4% to $47.55. In contrast, BOC HONG KONG (02388.HK) +0.060 (+0.307%) Short selling $8.41M; Ratio 13.650% gained 0.5%. CHINA MOBILE (00941.HK) -0.100 (-0.118%)...
SHCI Softens; SZCI, ChiNext Index Up 0.5%-0.9% The OECD trimmed global GDP growth forecast by 0.3 ppts for this year and next. However, it maintained the growth forecast of China at 6.5%/ 6.2% in 2016/17. In addition, the People's Bank of China (PBOC) today will carry out RMB10 billion reverse repos, with a term of seven days. Shanghai and Shenzhen stock markets traded mixed. Shanghai Composite Index continued lower 0.1% to end the day trading at 2,860, dragged by heavily weighted banking, Chinese real estate and oil stocks. Shenzhen Component Index bounced back nearly 0.5% to 10,162 at close. CSI 300 Index finished the day at 3,051, down 2 pts. Shenzhen Stock Exchange A/B Share Index and the ChiNext Index gained 0.5%-0.9%. Market turnover of Shanghai and Shenzhen bourses fell to RMB178.4 billion and RMB302.9 billion. For the whole week, Shanghai Composite Index and Shenzhen Component Index saw a cumulative gain of 3.5% and 5% respectively.
SHCI, SZCI Soften at Close Shanghai Composite Index and Shenzhen Component Index opened higher this morning and peaked at 2,893 and 10,273. Yet, the indices receded after the midday and last stood at 2,862 and 10,116, down nearly 0.2% and 0.4%. CSI 300 Index hit the high/low at 3,093/3,049 and last printed at 3,053, down 0.3%. ChiNext Index receded 1.1% to 2,190. Shanghai/Shenzhen Stock Exchange B Share Index rose approximately 0.6%. The turnover in Shanghai and Shenzhen increased to RMB230.7 billion and RMB359.8 billion.
HSI Rebounds 403 pts; Chinese Insurers, Oil, Infrastructure Stocks See Supports Stock markets in Europe and the United States headed north with the oil prices, sending Hang Seng Index to open 484 pts higher this morning. The increase once widened to 511 pts and the index hit the high for more than two weeks. It finished the morning session at 19,327, up 403 pts or 2.1%. Hang Seng China Enterprises Index rose 245 pts or 3.1% to 8,174. The market turnover amounted to $42.468 billion. Almost all of the blue chips fared well. HSBC HOLDINGS (00005.HK) +1.450 (+2.929%) Short selling $25.04M; Ratio 6.937% advanced 2.6% to $50.8, reclaiming the level of $50. The bank contributed 46 pts rise to Hang Seng Index. CHINA MOBILE (00941.HK) +1.450 (+1.747%) Short selling $107.53M; Ratio 20.729% and CHINA UNICOM (00762.HK) +0.240 (+2.840%) ...